Markets trade lower amid volatility; Sensex falls over 150 pts while Nifty below 17,200

25 Mar 2022 , 09:42 AM

Sensex and Nifty 50 traded downside after opening in the green amid volatility during Friday’s early bell weigh down by banking, financials, FMCG and pharma sectors while media, realty and metal stocks outperformed counterparts tracking mixed global cues. Investors reacted cautiously after oil prices falls 2% at $119.03 a barrel as EU failed to boycott Russian crude.

Meanwhile, ongoing Russian-Ukraine war dampened the economy of majorly affected global countries in which according to the latest UN report, India’s projected economic for 2022 has been downgraded by over 2% to 4.6 by the United Nations. Also, petrol, diesel prices hiked for third time in four days across the country on Friday.

At around 9:45 AM, Sensex was trading at 57,440.94 up by 154.74 points or 0.27%. The index has touched an intraday high and low of 57,845.37 and 57,411.40 respectively.

Nifty 50 performed at 17,193.20 higher by 29.55 points or 0.17%. The index has touched an intraday high and low of 17,294.90 and 17,171.95 respectively.

Top Bulls on Nifty50 were – UPL, Bajaj Auto, ONGC, Bharti AIrtel and M&M.

Top Bears on Sensex were – Tata Consumers, Titan, Nestle India, Maruti Suzuki and Tech Mahindra.

In terms of sectoral indices, banking and financials logged profit bookings while IT, FMCG were under pressure. However, metals, realty and media stocks witness buying sentiments from investors amid volatility. 

On the global front, US markets saw a superb comeback with Dow Jones gaining over 350 points while Nasdaq closes higher by almost 2% or 270 points climbing over 15% from the lows of March 10. Also, bond yields close near 2.35%.

Further, Asian markets opened muted with the Japanese ‘Nikkei’ trading lower by 65 points in early trade after seeing the best week in months as the index gained over 14% from the lows of 10th March. Most other Asian markets were trading flat as traders booked profit ahead of the weekend. Chinese stocks could see more action as manufacturing activity resumes after the near term Covid restrictions.